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COMMODITY OUTLOOK

DAILY COMMODITY MARKET UPDATE

NEWS IN HEADLINE

* Oil prices steady as strong dollar offsets bullish inventory draw

* Gold sinks as dollar surges on strong payrolls data

* Oil rises marginally as markets weigh inventory data, US ratings downgrade

CHART OF THE DAY

NATURALGAS: NATURALGAS is trading volatile and still struggling to sustain above the 220 level, where it faced resistance in a strong supply zone of 222-225. On the downside, the 100 SMA is acting as a strong support, which is currently placed at the 205 level. Below this, we can expect selling pressure to get momentum towards the 200-195 levels. On the upside, 235 will act as a strong resistance area

OUTLOOK:

* Bullion: Day trend is indicating sideways to upside in Gold &Silver.

* Energy: Day trend is indicating uptrend in Crude oil & Natural gas

* Base metals: Day trend is indicating uptrend in all base metals.

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